Agenda item

Report of Assistant Director of Finance and Assistant Director – Customer Focus

Purpose of report

To update Executive on how well the council is performing in delivering its priorities, managing potential risks, and balancing its finances during November 2023.

Recommendations

The meeting is recommended:

1.1         To consider and note the contents of the Council’s Performance, Risk and Financial report for the month of November 2023.

1.2         To approve the reserve requests in Appendix 5.

1.3         To approve the addition of £1.6m capital spend in relation to Grant agreements that have been concluded with two registered providers of social housing, Sanctury Housing and South Oxfordshire Housing Association (SOHA) to bring homes forward under the central government resettlement scheme Local Authority Housing Fund Round 2 allocation received by Cherwell.

1.4         To delegate authority to Assistant Director Wellbeing and Housing to award grants from the Local Authority Housing Fund Round 2 allocation, in consultation with the Monitoring Officer and s151 Officer, to secure additional social housing in the district with the intention that first let is to refugee families.

Resolved

(1)           That the Council’s Performance, Risk and Financial report for the month of November 2023 be noted.

(2)           That the following reserve requests be approved:

·       Directorate: Resources

·       Type: Earmarked

·       Description: Market Risk Reserve

·       Reason: Over-recovery of Treasury Income

·       Amount £m: (0.130)

·       Total Earmarked Reserves £m: (0.13)

(3)           That the addition of £1.6m capital spend in relation to Grant agreements that have been concluded with two registered providers of social housing, Sanctury Housing and South Oxfordshire Housing Association (SOHA) to bring homes forward under the central government resettlement scheme Local Authority Housing Fund Round 2 allocation received by Cherwell be approved.

(4)           That authority be delegated to Assistant Director Wellbeing and Housing to award grants from the Local Authority Housing Fund Round 2 allocation, in consultation with the Monitoring Officer and s151 Officer, to secure additional social housing in the district with the intention that first let is to refugee families.

The Assistant Director of Finance and Assistant Director – Customer Focus submitted a report to update Executive on how well the council was performing in delivering its priorities, managing potential risks, and balancing its finances during November 2023.

Resolved

(1)          That the Council’s Performance, Risk and Financial report for the month of November 2023 be noted.

(2)          That the following reserve request be approved:

·         Directorate: Resources

·         Type: Earmarked

·         Description: Market Risk Reserve

·         Reason: Over-recovery of Treasury Income

·         Amount £m: (0.130)

·         Total Earmarked Reserves £m: (0.13)

(3)          That the addition of £1.6m capital spend in relation to Grant agreements that have been concluded with two registered providers of social housing, Sanctury Housing and South Oxfordshire Housing Association (SOHA) to bring homes forward under the central government resettlement scheme Local Authority Housing Fund Round 2 allocation received by Cherwell be approved.

(4)          That authority be delegated to Assistant Director Wellbeing and Housing to award grants from the Local Authority Housing Fund Round 2 allocation, in consultation with the Monitoring Officer and s151 Officer, to secure additional social housing in the district with the intention that first let is to refugee families.

Reasons

This report provides an update on progress made during November, to deliver the council’s priorities, manage potential risks and remain within the agreed budget

Alternative options

This report summarises the council’s performance, risk, and financial positions for November, therefore there are no alternative options to consider. However, members may wish to request further information from officers for inclusion.